Faculty of Economics and Management

International Study Program

With Principles of Management, students learn the major tools of developing a business, a product idea, and a marketing strategy, acquire basic knowledge about incorporation, organization, and financial funding of a business, apply basic tools for staffing and production planning to management problems, acquire a sound foundation in the economic theory of business management

The course provides an introduction to financial accounting. Starting with technical aspects of bookkeeping and in particular the double-entry bookkeeping system fundamental principles of financial accounting are covered. This includes revenue and expense recognition and valuation principles for different balance sheet items.

Microeconomic theory deals with decisions of economic agent and the coordination among them.Topics: Theory of the firm; competitive equilibrium and monopoly in a single market; theory of the consumer; fundamentals of general equilibrium theory and game theory.

With Management Accounting, students develop an understanding of cost accounting and budgeting as instruments of planning and control from a management perspective, gain insight into recent developments in cost accounting, work independently on exercises and present their solutions to the auditorium, are enabled to derive managerial information from analyses of budget variances, learn to assess the adequacy of information generated for decision problems, are encouraged to impart and communicate managerial consequences from analyses.

Students gain basics of mathematical decision theory that studies interactions amongst rational decision makers in a well-defined strategic situation (game). This course equips students with the theoretical methods needed to analyse and solve basic classes of games. Student will be able to examine economic situations of conflicting interests as normal- or extensiveform games (game theory). By exposing students to a variety of real world applications that can be analysed gametheoretically this course also should encourage students to think strategically in their future business environments

The objective of this course is to define and explain the fundamental aspects of marketing performance management with special emphasis on marketing controlling. After successful completion of this course students will acquire new knowledge in the basics of marketing controlling and be able to apply instruments of marketing performance management independently, understand the emergence and relevance of fundamental marketing concepts and metrics, have a sound understanding of different approaches for measuring, for example, brand equity, customer equity, and corporate reputation, and gain first insights on online performance marketing.

With Macroeconomics, students shall acquire an analytical understanding of the determinants of output, the interest rate, employment, inflation, economic growth and business cycles, become acquainted with the empirical evidence on output, the interest rate, employment, inflation, growth, cycles, and the impact of government economic policies, acquire knowledge how to assess the possibilities and limitations of government policies aiming at controlling output, interest rates, employment, inflation, and growth

This course aims at providing the student with tools which are indispensable for examining a company and its stakeholders from a financial perspective. We derive rules of conduct for management and stakeholders. Further on, an introduction into the modeling of risk and the valuation of risky securities will also be part of the syllabus.

... will be filled in as soon as the module description is published ...

Principles of International Management provides a general overview on basic challenges and principles of international management. It introduces culture-specific challenges in the international business environment and tools to overcome these challenges. The following aspects will be considered among others: - national culture as the cause for differences between nations, theories of international business, strategic management of multinational corporations, human resource management in multination corporations

Students become acquainted with basic theories in international trade and finance - develop a thorough understanding of the real and monetary aspects of globalization (international trade, factor movements, financial markets and exchange rules) - have the ability to analyse the options for and limitations to national economic policies.

Whenever markets fail to provide an efficient allocation or lead to an undesirable distribution of wealth and income, the question arises whether and to what extent the government should step in to correct the market results. This course first identifies the main causes for market failures and discusses possible policy measures to correct them. We cover the following topics: efficiency of competitive markets, market power, public goods and externalities, asymmetric information, tax incidence and the excess burden of taxation.

Although a semester abroad is not mandatory, the Faculty of Economics and Management highly recommends that students take advantage of a semester abroad at one of our many cooperation universities worldwide. For the sake of adhering to the study program structure, it is recommended for students to go abroad in the fifth semester once 120 ECTS from the first four semesters have been acquired. Students interested in going abroad must begin the application procedure one year (two semesters) in advance (e.g. fifth semester abroad; consultation and application in third semester).

A complete overview of our cooperation schools find  here and filter by searching faculty and study program.

More information on different programs, such as ERASMUS, Free Mover, and WORLDWIDE here. 

Besides the possibility of a study-abroad semester at one of our cooperation schools, students may also do an internship abroad for one semester.
Student counseling and internship/job fair (annually in October) on campus available

For more information regarding an internship abroad, please click here.

Students shall acquire an understanding of the basic mathematical methods and algorithms required for business and economics, obtain general knowledge in higher mathematics, learn the most relevant concepts of calculus in one real variable, and develop skills to apply mathematical methods to economic problems.

Students shall acquire an understanding of the basic mathematical methods and algorithms required for business and economics, get to know most relevant topics from linear algebra and functions of several variables, and evelop skills to apply mathematical methods to economic problems.

Statistics I: Introduction to Probability and Statistics encompasses data, graphical representation, measures of location and variability, empirical quantiles, measures of relationship for bivariate data. Basic Probability: discrete and continuous probability spaces, random variables, expectation and variance, quantiles, covariance and correlation, conditional probability, independence.

Aim: Fundamental understanding of concepts and basic properties, ability to interpret and communicate data.

Statistics II: Students are introduced to basic concepts of inferential statistics, acquire the ability to select and apply appropriate methods for classical estimation and testing problems, acquire the ability to translate real-world economic problems into statistical terms, and to relate statistical results back to real-world applications.

Statistics III: Students acquire a basic understanding of econometrics from an applied perspective, in particular regression analysis and how to apply econometrics to real-world problems, become acquainted with basic testing and estimation methods and how to apply these with the help of econometric software packages to real world data, develop an understanding for the various challenges that arise in economic applications and how to deal with them.

International Business and Economics students must prove an amount of min.10 ECTS in a 2nd foreign language before finishing their degree.
For international students, German as a Foreign Language (DAF) should be taken as they prepare them for an internship, job position in Germany, etc. Offerings for German native speakers include French, Spanish, Italian, Russian and so far offered by the Language center, Portugese.

10 ECTS are included in the study program and are free of charge. However, the school recommends language studies for the entire duration of the bachelor program. A small student fee per semester will apply in this case, currently 60-80€.

With Academic Skills, English, students will be able to critically evaluate and distinguish academic and non-academic materials, gain insights into academic methodology and argument structure, acquire the skills to present an argument in an appropriate written and oral form according to accepted norms, develop their linguistic competence in subject-specific language. This module is also important for nativve speakers, and on the language level C1.

With Part A of the UNIcert English IV "Academic Writing", students will be able to cope linguistically and communicate effectively approaching the level of an academically educated native speaker, develop their competence in communication situations in the academic domain, acquire knowledge and mastery of lexical items and phrases in the context of the relevant subject areas, master standard grammatical, phonetic and orthographic models, demonstrate oral and written mastery of the language, acquire the ability to use linguistic means in a manner appropriate both to context and intention and with the necessary stylistic variation, develop the linguistic and cultural competence to enable them to act effortlessly both within the English-speaking world and internationally.

With Part B of the UNIcert English IV "Academic Presentations", students will be able to cope linguistically and communicate effectively approaching the level of an academically educated native speaker, develop their competence in communication situations in the academic domain, acquire knowledge and mastery of lexical items and phrases in the context of the relevant subject areas, master standard grammatical, phonetic and orthographic models, demonstrate oral and written mastery of the language, acquire the ability to use linguistic means in a manner appropriate both to context and intention and with the necessary stylistic variation, develop the linguistic and cultural competence to enable them to act effortlessly both within the English-speaking world and internationally. The final UNIcert examination in the end of the semester is included in this module.

In the fourth and fifth semesters of the IBE program, students are offered a range of modules, so-called "compulsory elective modules", from which they must choose a select number of courses (modules). Each semester, the Faculty of Economics and Management publishes the Module Handbook, where students are able to see their choices for that respective semester. The offerings can also be found on the OVGU's LSF platform.

International Business Compulsory Electives include currently the following modules. These modules can be subject to change.

International Tax Planning
Introduction to Production Management
Innovative Healthcare: Finding Solutions for Ukraine Seminar
Introduction to Cultural Studies
International Business Plan Seminar
Managing in a Globalized World
Game Theoretic Analysis of the Law
New Product Development

A "Semester Abroad" is highly recommened during the 5th semester, especially for students who finished the German Abitur. It is a great chance to specialize further and offers a wider range of compulsory elective for the IBE degree. Compulsory Electives can be taken at a higher education institution worldwide, more than 35 partnerships are provided. Recognition of credits, gained abroad is possible by fulfilling special requirments and applications. Please check out the information provided at the study abroad section. Personal couseling at the school and university is provided.

In the fourth and fifth semesters of the IBE program, students are offered a range of modules, so-called "compulsory elective modules", from which they must choose a select number of courses (modules). Each semester, the Faculty of Economics and Management publishes the Module Handbook, where students are able to see their choices for that respective semester. The offerings can also be found on the LSF platform.

International Economics Compulsorys currently include the following modules. These modules may be subject to change. Further offers are expected in the coming semester.

Introduction to Econometrics II
Globalization: Past, Present, & Future
The EU Governance System: Polity, Politics and Policies

A "Semester Abroad" is highly recommened during the 5th semester, especially for students who finished the German Abitur. It is a great chance to specialize further and offers a wider range of compulsory electives for the IBE degree. Compulsory electives can be taken at a higher education institution worldwide, more than 35 partnerships are provided. Recognition of credits gained abroad is possible by fulfilling special requirments and applications. Please check out the information provided at the study abroad section. Personal couseling at the school and university will be provided.

... will be filled in as soon as the module description is available ...

Exampels from previous years ...

1. The Business Plan Seminar, students shall familiarize themselves with tools for developing a business and a product idea, apply their basic knowledge about incorporation, organization, production planning, and financial funding to writing a fictitious business plan, develop a sense for real business life, acquire social, management, and self-management skills during their multicultural teamwork and presentations, and by doing so, are introduced to relevant software-tools (Word, Excel, PowerPoint).

Development of a Business Idea: Value creation, Business Plan • Aspects of Marketing: Target Group, Sales Plan, SWOT, Marketing Mix • Staffing a Corporation: Demand, Recruiting, Property Right Assignment • Fundamentals of Accounting: The Annual Report, Financial Statements • Incorporating a Firm: Alternative Legal Options, Tax Aspects • Production and Logistics: Production Programs, Costs of Production • Financial Planning: Financial Effects of Staffing, Investment, Production • Managerial Economics: Creating and Capturing Value, Game Theory • Organizational Architecture: Decision Rights, Incentives, • Vertical Integration and Outsourcing, Leadership, Business Environment and Ethics  (winter term only)

2. In Quantitative Methods for Business students become acquainted with selected management problems that can be solved by using quantitative methods, have the ability to develop spreadsheet models to support real-life decision making, can write comprehensive and convincing project reports and present their results, develop the ability to create solutions for case studies in teams. This includes an agreed-upon division of labor, the ability to solve team-internal conflicts, and communication as well as social competencies, and are empowered to acquire knowledge of new topics through self-study of the pre-specified literature in a short amount of time.

Project Scheduling - Spreadsheet Modeling of Linear and Mixed Integer Programming with Excel Solver / Open Solver - Inventory and Queuing Models - Simulation - Programming with VBA  (winter term only)

3. Milestones in the History of Economics is a  module by the chair of Public Economics and offered in the summer term only. Descrption here

Students develop an understanding of research projects and progress in self-development with aquired tools during their degree to position themselves in the labor market, or for graduate studies. Seminar participants are required to identify and describe problems and challenges with the help of theoretical reasoning, acquire knowledge about different academic research methods, obtain sources of information, posess the ability to write in an academic and professional manner, and present gathered, analyed and processed materials, and subsequently participate in academic discussions.

All IBE students who write their thesis must participate in the seminar. The individual theses are supervised by the professor whose area of research is closest to the topic of the student’s thesis. The thesis may focus on theoretical or applied topics, which the student formulates in cooperation with their advisor. The topics can vary across all fields of management and economics. The respective professors are responsible for supervising and evaluating the thesis. The students are required to present in the thesis colloquium.

An obtained degree in International Business and Economics prepares graduates for managerial and entrepreneurial occupations within foreign or multinational companies, consultancy firms, banks and financial institutions, and international non-profit organizations.
Our graduates are perfectly prepared to further academic studies worldwide, like master's program in economics or management.